Gencom comes for NYC’s luxury hotel crown
Gencom planted another flag along Central Park South. The Miami-based investor paid about $320 million for the 253-key Ritz-Carlton Central Park South at 50 Central Park South, adding a third Manhattan hotel to a rapidly expanding local portfolio. Property records show a $270 million transfer price
Manhattan racks up ultra-rich renters
Earlier this week, former Howard Hughes CEO David Weinreb agreed to rent his West Chelsea penthouse for $177,500 a month, an eye-popping figure that followed a $95,000-a-month lease at a Naftali Group building on the Upper East Side in December. Data on trophy rentals is tough to pin down, but this
4 inconvenient facts about Mamdani’s model project
The groundbreaking on Wednesday for Timbale Terrace, a project by Emanuel Kokinakis’ Mega Group and Dan Kent’s Lantern Organization, was a perfect event for Mayor Zohran Mamdani to attend. It’s a model for what he wants to build: 100 percent affordable housing on city land. But is it a perfect model
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